Frost & Sullivan: Market View of Eco-Friendly LNG as a Viable Option to Meet Energy Needs Bodes Well for APAC EPC Contractors

Frost & Sullivan: Market View of Eco-Frost & Sullivan: Market View of Eco- Friendly LNG as a Viable Option to Meet Energy Needs Bodes Well for APAC EPC Contractors PR Newswire KUALA LUMPUR, Malaysia, March 26, 2014 -- EPC contractors are using floating LNG and mini-LNG plants to cater to end-user demand The environmental benefits that liquefied natural gas (LNG) offers over oil and coal are encouraging the development of natural gas-fired power plants to meet the intensifying energy demand in the Asia-Pacific (APAC) economies. Along with the need for more floating regasification terminals – that reduce the time required to receive cargoes – this is expected to strengthen the prospects of engineering, procurement, and construction (EPC) contractors in the region. New analysis from Frost & Sullivan, Strategic Analysis of EPC Opportunities in the Asia-Pacific LNG Market, finds that the market earned revenues of US$12.77 billion in 2012 and estimates this to reach US$24.85 billion by 2017. The market will witness a spike in revenues this year – due to the large number of EPC contracts expected to be awarded – and then revert to its normal course from 2015 onwards. Opportunities for EPC contractors are spread across four segments: exploration and production, liquefaction, transportation, and regasification.